FuturesCom Investment Publications Since 1989 Economic and Investment Trend Analysis Since 1979

Economic and Investment Trend Analysis - Socio Economics - Forex - Bonds - Dow Jones - Nasdaq - SP500
Precious Metals - Energy - Livestock - Grains - Softs

FuturesCom Investment Publications
Morning Comments, Thursday May 8th, 2003
Experienced Since 1979 - Serving Professional and Individual Traders World Wide since 1988
7690 Rockport Circle, Lake Worth, Florida 33467 Tel: 1-561-433-2995 http://www.futurescom.com

Wed May 7th, 2003
3:00 PM eastern standard time

The ‘Frenzied’ Forex Front

June Yen
Support should appear near 8589 to 8560 and 8499 to 8484.

Resistance should appear near the 8668 to 8683, which should Cap a rally.. BW Traders can sell at 8662 and risk a close over 8717 for three days in a row.

June Euro Currency (EC)
Support should appear at 11330 to 11300 and 11227

Resistance is at 11360 and 11430 then 11500

June Swiss Franc
Resistance should appear near 7587 to 7601

Support should appear near 7513 to 7487 .

June British Pound
Recommended Open Position Long 15968
Support should appear near 15852 and 1.5760 to 1.5690

Resistance should appear near the 1.5960 and 16002

June Canadian Dollar
Support should appear near 7143 and 7088 to 7074

Resistance is at 7170 and 7242 to 7255

June Aussie Dollar
Support is at 6350 to 6335 and 6270 to 6257

Resistance should appear near the 6417 to 6430 region

The Sensational Stock and Bond Markets

Dow Jones Industrial Average
Resistance should appear near 8589 and 8668 to 8683.. Beyond that a test of 8762 to 8777 is likely. Above that sellers should appear near 8856 to 8871 and the 8934 to 8964 region.

Support should appear near 8499 to 8484 an extended trade or close under augurs for a test of 8406 to 8391 and the 8314 to 8300 region…Below support should appear near 8223 to 8194 and the
8134 to 8119.

June SP500
Recommended Open Position Short at 931.50
Resistance is at should appear near 931.60 to 934.70 and 942.90 to 944.50…Beyond that sellers should appear near 952.60 to 954.20 then 962.50 to 964.10 and the 970.60 to 973.70 region. Which should cap a rally. BW Traders Who Have Ice Water Running through their veins can sell at 961.30 and hold for lower prices…

Support should appear near 923.60 and 915.60 to 914.00. An extended trade or close under is negative and augurs for a test of 906.00 to 904.40.. Aggressive BW Traders should go short if a close under 923.10 occurs

Stay tuned for BW SP500 Updates and Index program trades , while day trades can occur at anytime

Nasdaq Composite
Resistance 1529 to 1535 and the 1569 to 1576 region.

Support should appear near 1496 to 1484

June Mini Nasdaq 100
Resistance is at 1164 to 1169 and 1192 to 1203

Support is at 1136 to 1132. A slip under is negative and augurs for a test of 1101 to 1096 region.

June Ten Year T-Notes
Resistance should appear near 116-17 and 116-23

Support is at 116-04 and 115-23.

The Precious Metals

June Gold
Support should appear at 338.6 to 337.6 and the 332.8 to 331.9 region, which should hold.. BW Traders can buy at 338.9 for a bounce , risk a close under 331.5 for three days in a row. Below that buyers should appear near the 327.0 to 326.1 region.

Resistance is at 344.3 , a close over is friendly and augurs for a test of 349.3 to 350.3 and eventually the 355.3 to 356.3 region . BW Traders should go long if a close over 344.7 occurs

July Copper
Recommended Open Position short 7245
Support should appear near 7325 and 7255 to 7240 ..

Resistance should appear near the 7415 to 7425 region

July Silver
Support should appear near 471.5 to 469.5 and the 465 to 463.5 region.. BW Traders can buy at 465.5 and hold for higher prices.. Risk a close under 457 for three days in a row.

Resistance is at 477.5 to 478.5 and the 484.5 to 485.5 region.. .. BW Traders should go long if
a close 486.5 occurs .

The Exciting Energies

June Crude Oil
Support should appear near 2620 to 2612 and 2568 to 2552

Resistance is at 2663 to 2672 and the 2716 to 2724 region. Beyond that sellers should appear near 2758 to 2775.. BW Traders can sell at 2757 and risk a close over 2832 for three days in row.

June Unleaded Gas
Support should appear near7690 to 7675 and 7605 to 7585

Resistance should appear near 7835 to 7865 and the 7940 to 7955 region. .

June Heating Oil
Resistance should appear near 6920 and the 6990 to 7005 region.
Support should appear near 6835 to 6810 and the 6755 to 6740 region

The Lively Livestock

June Live Cattle
Recommended Open Position Long 7257
Support should appear near 7257 to 7242.

Resistance is at 7322 to 7342

June Lean Hogs
Recommended Open Position Long at 6432
Support is at 6352 to 6337 and the 6272 to 6257 region..

Resistance is at 6417 to 6432 and 6482 to 6507, a close over is friendly and augur
for a test of 6577 to 6592.. BW Traders should go long if a close over 6512 occurs..

July Pork Bellies
Support should appear near 9157 to 9142 and the 9067 to 9042 region .

Resistance is at 9317 to 9347, a close over augurs for a test of 9427 to 9445 and the 9527 to 9542 region.. BW Traders should go long if a close over 9352 occurs

Stay Tuned for Livestock Updates and Flashes

The Grande’ Grains

July Soybeans
Recommended Open BW Position Long 631 1/2
Resistance is at 633 3/4 to 635 region A close over is friendly and augurs for a test of 641 3/4 to 643.

Nearby Support should appear near 627 to 625 then 619 to 616 1/2 and the 610 1/2 to 611 1/4 region. .
BW Traders can buy at 619 3/4 and hold for higher prices , initially risk a close under 610 3/4 for three days in a row. BW Traders should go long if a close over 635 ¾ occurs

July Soymeal
Recommended Open Position Long at 195.4
Support should appear near 190.9 to 190.2 and the 186.8 to 185.8 region ..

Resistance is at 194.6 to 195.3 and 198.2 to 199.6.
BW Traders should go long if a close over 199.7 occurs

July Soybean Oil
Resistance should appear near 2219 to 2226 and 2267 to 2275.
Support should appear near 2185 to 2170 and the 2134 to 2126 region.. BW Traders can buy at 2136 for a good bounce and risk a close under 2077 for three days in a row..

July Corn
Resistance should appear near 246 1/4 to 247 and 251 1/4 to 251 3/4

Support is at 241 3/4 to 241 1/4 and 237 to 235 1/2

July CBOT Wheat
Recommended Open Position Long at 293
Support should appear at 299 to 297 1/4 and 293 3/4 to 292 3/4

Resistance should appear near 303 3/4 to 304 1/2 and the 309 1/2 to 310 1/2 region. BW Traders can sell at 309 1/4 and risk a close over 317 for three days in a row.

The Satisfying Softs

July the ‘Monster’ Coffee
Recommended Open BW Position Long 2 at 6855
Support is near 6835 to 6810 and the 6755 to 6740 region. Below that 6675 to 6655 should hold. .

Resistance should appear near 6905 to 6920 and 6990 to 7005

July Cocoa
Support should appear near 1822 to 1808 and the 1780 to 1774 region.. .

Resistance should appear near 1858 to 1865 and the 1902 to 1909 region.

July Sugar
Recommended Open Position Long at 687
Support should appear near 682 and 671

Resistance should appear near 695 and 704 to 712

July Cotton
Recommended Open Position Long at 5435
Support should appear near 4995 to 4970 and the 4930 to 4915 region
Resistance should appear near 5035 to 5065 and 5125 to 5140

Ship in Harbor is Safe.. But that is not what ships are built for –

Happy Trading!
Bill
wil@futurescom.com
1-561-433-2995
Wed May 7th, 2003
3:55 PM, South Florida Beach Time

THIS PUBLICATION CONTAINS THE VIEW AND OPINIONS OF THE AUTHOR, EXCEPT WHERE OPINIONS ARE ATTRIBUTED TO OTHER SOURCES. WRITTEN PERMISSION IS REQUIRED PRIOR TO ANY DISTRIBUTION OR REPRODUCTION. FUTURES TRADING ARE RISKY AND CAN CAUSE SUBSTANTIAL FINANCIAL LOSS. THE USE OF OPTIONS AND OPTION TRADING INVOLVES A HIGH DEGREE OF RISK. THE USE OF STOPS MAY NOT LIMIT LOSSES TO INTENDED AMOUNTS. SPREAD POSITIONS MAY NOT BE LESS RISKY THAN OUTRIGHT FUTURES POSITIONS. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. SOURCES ARE BELIEVED TO BE RELIABLE BUT NO ASSURANCE IS MADE FOR ACCURACY. ADDITIONAL RISK DISCLOSURE IS AVAILABLE.